Apple breaks iPhone sales record again

Apple today said it sold a record 18.6 million iPhones in the first three months of 2011, the third consecutive quarter the company's smartphone has set sales records.

posted -- also the third quarter running that it's broken the $20 billion mark -- which represented an 83% increase over the same period last year.

Profits were just shy of the $6 billion Apple recorded last quarter, but 95% higher than the first quarter in 2010.

Executives boasted that the firm generated the highest revenues for a January-to-March quarter in company history.

"It was really solid across the board," said Brian Marshall, an analyst with Gleacher & Co.

The highlight, Marshall said, was obviously the , which contributed nearly 50% of Apple's total revenues for the quarter, the largest slice ever for the smartphone.